Answer:
Option B. 5.28%
Explanation:
The cost of unquoted debt can be found from the following formula:
Cost of Debt = Interest rate * (1 - Tax rate)
The interest rate here is 8% and tax rate is 34%.
So by putting the values we have:
Cost of Debt = 8% * (1 - 34%) = 5.28%
So the cost of debt to the company is 5.28% and rate of return for appraising this opportunity as well.
Answer:
5.28%
Explanation:
the actual after tax rate paid by the company = interest rate x (1 - tax rate) = 8% x (1 - 34%) = 8% x .66 = 5.28%
When a company borrows money, the principal it pays back is not tax deductible, but the interest paid is tax deductible. Therefore, the real cost of borrowing money for a company is the actual interest times 1 - tax rate, since all interest paid will be deducted.
Shannon is an officer for Turista Shirts Corporation. Due to a bad business decision, made on a reasonable basis, on Shannon’s part, the company’s sales decrease. Shannon is most likely liable for breach of:
Answer:
(d) none of the choices.
Explanation:
Since in the question, it is given that Shannon is an officer and because of a bad business decision that made on a reasonable basis, the company sales decreased that does not reflect the breach of duty of care, neither the judgment rule nor the duty of loyalty
As these options do not a reason for reducing the sales of the company
Hence, the correct option is d.
The December 31, 2016 balance sheet of the Rakmer Company had Accounts Receivable of $650,000 and a credit balance in Allowance for Doubtful Accounts of $33,000. During 2017, the following transactions occurred: sales on account $1,550,000; sales returns and allowances, $100,000; collections from customers, $1,250,000; accounts written off, $35,000; previously written off accounts of $8,000 were collected. Instructions (a) Journalize the 2017 transactions. (b) If the company uses the percentage of receivables basis to estimate bad debt expense and determines that uncollectible accounts are expected to be 6% of accounts receivable, what is the adjusting entry at December 31, 2017
Final answer:
To journalize Rakmer Company’s 2017 transactions including sales, returns, collections, and write-offs, the corresponding accounts are debited and credited appropriately. At year-end, calculate the bad debt expense using the percentage of receivables basis by estimating 6% of the total accounts receivable to adjust the Allowance for Doubtful Accounts.
Explanation:
The transactions for the Rakmer Company in 2017 involve sales on account, collections from customers, sales returns and allowances, accounts written off, and collections on previously written off accounts. To journalize these transactions and estimate bad debt expense for the year, the accounting records would be updated as follows:
Sales on account are recorded as a debit to Accounts Receivable and a credit to Sales Revenue.
Sales returns and allowances are debited to Sales Returns and Allowances and credited to Accounts Receivable.
Collections from customers are recorded as a debit to Cash and a credit to Accounts Receivable.
Accounts written off are debited to Allowance for Doubtful Accounts and credited to Accounts Receivable.
Recovery of previously written off accounts are recorded as a debit to Accounts Receivable and a credit to Allowance for Doubtful Accounts, followed by a debit to Cash and a credit to Accounts Receivable upon collection.
For the adjusting entry at year end, assuming a 6% percentage of receivables basis, we calculate 6% of the December 31, 2017, accounts receivable balance to find the desired ending balance for the Allowance for Doubtful Accounts. If the existing credit balance in the allowance account is less than this calculated amount, we need to credit Bad Debt Expense and debit Allowance for Doubtful Accounts with the difference. This ensures our allowance reflects the estimated uncollectible amounts at year-end.
A goods-producing location decision would likely emphasize the importance of ___________
Vaughn Inc. reported total assets of $2406000 and net income of $332000 for the current year. Vaughn determined that inventory was overstated by $25500 at the beginning of the year (this was not corrected). Ignoring income taxes, what is the corrected amount for total assets and net income for the year?
Answer:
$2,380,500 and $357,500
Explanation:
The movement in the balance of inventory at the start and end of a period is as a result of sales and purchases. While sales reduces the balance in inventory, purchases increases the balance. This may be expressed mathematically as
Opening balance + purchases - cost of goods sold = closing balance
As such, when inventory is overstated at the start of the year, the ending inventory would also be overstated by the same amount, the cost of goods sold would be overstated and net income understated.
Correct amount of asset
= $2406000 - $25500
= $2,380,500
net income for the year
= $332000 + $25500
= $357,500
Kelvin isn’t sure how to read this legal description, but his agent said something about reading it from right to left. Here’s the description: "The north half of the northwest quarter of Section 6, Township 8 North, Range 68 west of the 5th principal meridian." What land description method did surveyors use for this piece of property?
Answer:
Rectangular government survey.
Explanation:
Final answer:
The method used for the land description is the Public Land Survey System (PLSS), also known as the township and range system, which identifies land parcels within a grid layout using a hierarchical method starting with the smallest land division.
Explanation:
The surveyors used the Public Land Survey System (PLSS), also known as the township and range system, to describe the location and area of individual property parcels such as the one mentioned, "The north half of the northwest quarter of Section 6, Township 8 North, Range 68 west of the 5th principal meridian."
This system is based on townships and sections, where a township is designated by its location relative to a specific base line and principal meridian. Each township is typically six miles square, and divided into 36 sections, each one-mile square. Further divisions into halves and quarters of these sections are used to provide more specific descriptions of land parcels.
Legal descriptions like this one start from the smallest division and work backwards to the largest. For example, starting with the "north half" and moving to the "northwest quarter" then to "Section 6," followed by "Township 8 North," and finally "Range 68 West of the 5th principal meridian." This hierarchical method allows for precise identification of land parcels within the large grid overlaid on the land by the PLSS.
You will give the keynote address at the annual meeting of the American Manufacturing Association. You realize most of the attendees think marketing is just advertising. So, you decide to start your keynote address by defining what marketing is in order to set the proper context for your speech. You define marketing as:
Answer:
Explained Below.
Explanation:
Marketing is just not the process of advertising but it is the process to create or originate goods and products, then to distribute the product widely as much as possible, and also pricing goods, and giving services to the consumer who is particularly using that product, and new ideas which facilitate and satisfies exchange connection with the consumer of the product.
Clay Pots pays Dora $25,000 to propose an online marketing campaign. Two days later, Dora tells Clay Pots that she has accepted a job with its competitor Earthenware Inc. and cannot plan the campaign. As compensatory damages, Clay Pots can recover:________.
a. $0.
b. $2,500.
c. $25,000.
d. $250,000.
Answer:
The correct option is C,$25,000
Explanation:
In discharging a contract ,it is mandated that the parties should be restored back to their previous positions as much as possible,prior to entering into the agreement.
In other words,prior to paying Dora Clay Pots has a cash amount of $25,000 which has been parted with as a consideration for the online marketing campaign,hence Clay pots should be restored to its prior position of having at its disposal cash of $25,000.
Conclusively,the compensatory damages is the return of cash of $25,000.
Alpha First Company just began business and made the following four inventory purchases in June:
June 1 150 units $ 1,040
June 10 200 units 1,560
June 15 200 units 1,680
June 28 150 units 1,320
$ 5,600
A physical count of merchandise inventory on June 30 reveals that there are 210 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is
Using the LIFO inventory method, Alpha First Company's ending inventory value on June 30 is $1,824. This is calculated by attributing the last purchased items (150 units from June 28 and 60 units from June 15) to the 210 units on hand.
Explanation:The Alpha First Company wants to know the value of their ending inventory on June 30 using the LIFO inventory method. LIFO stands for Last-In, First-Out, which means that the most recently acquired items are recorded as sold first. Here's how it works in this case:
Out of the 210 units on hand, 150 units come from the June 28 inventory which cost $1,320. The remaining 60 units come from the June 15 inventory. The cost per unit of this inventory is calculated by dividing the total cost by the total number of units (i.e., $1,680/200), which comes to $8.40 per unit. Therefore, the cost of the 60 units is 60 * $8.40 = $504.
So, the value of the ending inventory on June 30 is the sum of these two amounts, which is $1,320 + $504 = $1,824.
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A canning company defines a "nonconformance" as an orange juice can whose diameter is beyond the upper specification limit.A manager at the canning company wants to monitor the number of such orange juice cans produced per day.Each day,an employee will randomly select 120 cans over a period of four weeks.The employee then determines and plots the number of nonconformance cans in each sample.The appropriate control chart is a(n):_________.
A) u-chart.
B) R-chart.
C) p-chart.
D) np-chart.
Answer:
Option D. np-chart.
Explanation:
An np-chart is an attributes control chart which is used with the data that is collected in subgroups that are the same size. Np-charts are used to show how the process (which is measured by the number of nonconforming items it produces) changes over time. The process attribute is always described in a yes/no, pass/fail, go/no go form.
In other words, an np-chart refers to a plot of number of defective pieces in a fixed sample size in the order of production. If the sample size is fixed, np-chart can be used. For instance, the number of incomplete accident reports in a constant daily sample of five would be plotted on an np-chart.
Final answer:
The appropriate control chart for monitoring nonconforming orange juice cans at a canning company is an np-chart, which is used when dealing with a constant sample size and counting the number of defective items.
Explanation:
The appropriate control chart for monitoring the number of nonconforming orange juice cans whose diameter is beyond the upper specification limit is a np-chart. A np-chart is used for quality control when monitoring the number of defective items in a sample of constant size.
In this case, since the employee samples a constant number of 120 cans each day, and they are counting the number of cans that are nonconformances (either conforming or not), the np-chart is the correct tool to use in this scenario. Other charts like the p-chart, u-chart, and R-chart are not suitable because they are used for different scenarios.
The p-chart is used for proportions when sample sizes vary, the u-chart is used for counts of nonconformances per unit where the sample size can vary, and the R-chart monitors the range within samples as a measure of variability.
A major U.S. manufacturer of children's toys believes its main competitive advantage lies in its continuing the creation of innovative toys and games. The company is facing increasing competition on price, and it is strongly considering outsourcing to offshore firms as a means of reducing costs. The LAST function this firm should consider outsourcing is:
Answer:
The options are given below:
a. operations.
b. research and development.
c. supply-chain management.
d. distribution.
The correct option is B.
Explanation:
Research and development (R&D) is a term that is used to refer to the activities that companies undertake in order to innovate and introduce new products and services. It is usually the first stage in the development process.
The objective of research and development is essentially, to take new products and services to market and add to the company's range of products and services. Research and development allows a company gain the advantage over its competition.
From the explanations above, we ca conclude that research and development will be carried out better by the company in concern. This is because the company knows the best way to meet its goals. Therefore, outsourcing this function may not be as effective as when the company performs the function itself.
In what became known as the "Pentagon Papers Case," the Nixon Administration attempted to prevent the ____________________ from publishing materials belonging to a classified Defense Department study regarding the history of United States activities in Vietnam. The President argued that prior restraint was necessary to protect national security.
Answer:
New York times v US
Explanation:
The president Nixon had tried to use his power as president to stop the New York Times from publishing the classified information belonging to the Defense Department study regarding the history of United States activities in Vietnam in its possession. The supreme Court defended the First Amendment right of free press against the restraint the newspapers were facing by the government. The court found this unconstitutional and ruled in favor of the newspapers to publish the materials.
Accountants are counted on to provide management with analyzing data to determine best- and worst-case scenarios. As future planning becomes more complex, these what-if analyses can increase in complexity and usefulness. Identify and discuss at least three (3) types of what-if analyses that an accountant should be able to perform to measure a firm's performance over a period. Be sure to include the type of data that will be needed to support this analysis. Justify your response.
Answer:
A) scenarios
B) goal seek
C) data tables
D) solver add-in
Explanation:
Some of the what-if analyses that an accountant uses to measure a firm's performance of appropriate are:
A) scenarios
B) goal seek
C) data tables
D) solver add-in
A brief discussion on the above points is mentioned below:
A) scenarios: If what wants to analyse more then two variables then he/she can use scenarios. A scenario can have a maximum of 32 values but one can create as many scenarios as he/she wants.
B) goal seek: goal seek works with only one variable input value. If one knows the result that he/she want from a formula but he/she is not sure what input value the formula require to get the result then he/she can use the goal seek feature.
C) data tables: a data table works with only one or two types of variables but it can accept different values for those variables. Data table makes it easy to examine a range of possibilities at a glance. Because one focuses on only one or two variables, results are easy to read and share in tabular form.
D) solver add-in: if one wants to determine more than one input value, for example, the loan amount and the monthly payment amount for a loan, he/she use the solver add-in.
Bad publicity associated with massive layoffs is an example of _________. Group of answer choices competitive rivalry exit barriers excess capacity horizontal integration horizontal diversification new entrant risk
Answer:
Exit Barriers
Explanation:
Exit barriers are obstacles mitigates a company from leaving a market in which considerations are made in stopping operations or from which it wishes to separate from. They are things that hinders an organization from exiting a market. Barriers associated with exit barriers may include emotional barriers such as massive layoffs, desire to recoup and so on. Other exit barriers include strategic interrelationship and specialized assets and governments and social restrictions.
Final answer:
Bad publicity from massive layoffs is an example of exit barriers, which are costs that prevent companies from leaving an industry, including economic, regulatory, and reputational factors.
Explanation:
Bad publicity associated with massive layoffs is an example of exit barriers. Exit barriers are often economic or emotional costs that prevent companies from leaving an industry and can include specialized equipment that cannot be repurposed, long-term contracts, regulatory restrictions, or the emotional ties of the management to the sector. When firms face intense competition and market challenges, such as deregulation leading to market entries and exits, they may need to lay off workers to remain viable or when they go bankrupt. This can result in bad publicity, which is yet another barrier making it hard for companies to exit smoothly from the market as it affects brand reputation and stakeholder trust.
In the month of November Marigold Corp. wrote checks in the amount of $43300. In December, checks in the amount of $59239 were written. In November, $39630 of these checks were presented to the bank for payment, and $50932 in December. What is the amount of outstanding checks at the end of December
Answer:
$11,977
Explanation:
The difference between the balance of the total checks written and balance of the total checks presented for withdrawal gives the amount outstanding.
As such, amount of outstanding checks at the end of December is the net of the balance of the checks written in November and December and the balance of the checks presented in the same period.
This is
= $43300 + $59239 - $39630 - $50932
= $11,977
Answer:
11,977
Explanation:
Workings
Checks
Dr Cr
November $43300
November $39630
December $59239
December $50932
$ 11,977
$102,539 $ 102,539
An accountant was asked by a potential client to perform a compilation of its financial statements. The accountant is not familiar with the industry in which the client operates. In this situation, which of the following actions is the accountant most likely to take?
a.
Postpone accepting the engagement until the accountant has obtained an adequate level of knowledge about the industry.
b.
Request that management engage an independent industry expert to consult with the accountant.
c.
Decline the engagement.
d.
Accept the engagement and obtain an adequate level of knowledge about the industry.
Answer:
The correct answer is d. Accept the engagement and obtain an adequate level of knowledge about the industry.
Explanation:
Lack of knowledge about a specific sector is not causal for the accountant not to take the assignment or project that is required to be carried out, since this task consists of a period of study about the different variables and the market that needs to be evaluated. In accounting terms, management is similar to other sectors, however, in case the accountant is totally unaware of what needs to be studied, the most appropriate thing is to take time to understand the dynamics.
On June 1, Grey Co. borrows $15,000 cash from National Bank by signing a 120-day, 10% interest-bearing note. Grey will record interest during the year totaling {$blank input field}. Using a 360 day year, round your final answer to the nearest whole dollar.
Answer:
$500
Explanation:
The amount of interest to be recorded Grey Co on the borrowed amount of $15,000 is computed by applying the interest rate of 10% to the amount borrowed while apportioning the 120 days period by multiplying by 120 days and dividing by 360 days as computed below:
Interest=$15,000*10%*120/360=$500
The interest that Grey Co would record on the $15,000 is $500 during the year using a 360 day per year instead of the usual 365 day which does not make provision for Banks' holidays
Answer:
$500
Explanation:
Principal amount = $15000
Interest rate = 10%
Interest value = 10%*15000
$1,500
Loan term = 120 days
Pro rated interest = 120/365*1500=493.1
To the nearest whole dollar $500
Paul recently graduated from college and joined an information technology firm. When he starts work, Paul is taken aback by the differences between college life and professional life. He is dissatisfied with his unsupportive supervisor and is concerned about the lack of frequent feedback and the uncertainty of the logistical aspects of solving work problems. This scenario best exemplifies _____.
Answer:
entry shock
Explanation:
In simple words, entry shock refers to the stage in an individuals professional career where he or she might feel confused about his or her work and get concerned with their future. There could be many reasons behind such a scenario.
Some of which is lack of understanding of the practical aspects of the knowledge to be performed, lacking adjustment in the work environment etc. Thus, from the above we can conclude that the given case illustrates entry shock.
Final answer:
The response discusses uncertainty in starting a new job, the anxiety in transitioning from college to the professional world, and the importance of developing success-driven mindsets during this period.
Explanation:
Uncertainty in the professional setting: When Paul experiences dissatisfaction with his supervisor, lack of frequent feedback, and uncertainty in solving work problems, it reflects the high level of uncertainty typical in a new job.
Anxiety in transitioning: Similar to the nerves on the first day of a class with a new instructor, transitioning from college to the professional world can cause feelings of anxiety due to unpredictability.
Developing mindsets for success: Individuals like Paul need to adapt behaviors and mindsets to navigate challenges and frustrations in the transition from college to the workforce.
Calculator Which of the following is not true regarding the use of materials variance information?
a. The production manager is concerned with minimizing scrap, waste, and rework.
b. The purchasing department is responsible for acquiring quality materials.
c. The production manager is generally responsible for materials usage.
d. The purchasing agent has the responsibility for controlling the materials price variance.
e. All of these choices are true.
Answer:
e. All of these choices are true.
Explanation:
The creation director is commonly answerable for materials utilization. limiting piece, wastage, and improving expense. Job of Purchase division is to acquire the crude material required for creation. It needs to guarantee that the crude material matches the normal quality and furthermore at a sensible cost.
Simmons manages a company that hauls toxic chemicals. He has made sure that everything is in compliance with all safety and environmental laws, but one tanker truck is in an accident and spills chemicals into a creek, requiring costly cleaning. Simmons: a. is not liable, because the driver should have taken extra care in such a situation. b. is liable only if he acted negligently. c. is not liable, because he acted with due diligence to see that no one was hurt. d. is strictly liable for all harms.
Simmons is strictly liable for all harms (option d).
Explanation:
The Federal Government enacted significant laws to protect the environment from the pollution caused by corporate sectors. EPA (Environment Protection Agency) laws cleanly monitor the threat of water pollution. The Clean Water Act (CWA) is administered under the guidance of higher-level officials working in EPA. In this scenario, Simmons should bear entire responsibility from the cause of the unexpected accident done through tanker trucks.
Though Simmon has followed utmost diligence to follow the routine work of toxic chemicals. But he solely takes charge to clear the creek which may spoil its utility in a future period. Though, he is not directly involved in it. The compliance procedure should be strictly followed by Simmon. At any cost Simmon also liable to the pollution-related crime done by employees of his own company.
Suppose the state of Wyoming passes a law that increases the tax on cigarettes. As aresult, smokers who live in Wyoming start purchasing their cigarettes in surrounding states.Which of the following principles does this best illustrate?a. People respond to incentives.b. Rational people think at the margin.c. Trade can make everyone better off.d. Markets are usually a good way to organize economic activity.
Answer:
a. People respond to incentives.
Explanation:
Assuming the state of Wyoming passes a law that increases the tax on cigarettes thereby causing smokers who live in Wyoming to start purchasing their cigarettes in surrounding states.
Consequently, an increase in the tax on cigarettes altered the behavior of the smokers in Wyoming, it made them to purchase from neighboring states.
This illustrates or reflect the fact that people respond to incentives.
The situation where Wyoming smokers buy cigarettes out-of-state to avoid increased taxes exemplifies the principle that people respond to incentives, as the higher costs drive them to seek more affordable options.
Explanation:The scenario described illustrates the principle that people respond to incentives. When Wyoming increased the tax on cigarettes, smokers in Wyoming were incentivized to purchase their cigarettes in surrounding states where the taxes might be lower. This is an example of how a change in the cost of a product (cigarettes, in this case) can influence consumer behavior, leading them to change where they make their purchases to avoid the higher cost.
Tobacco is known to have an inelastic demand among regular smokers, which means that changes in price do not drastically alter their consumption levels. However, by crossing state lines to purchase cigarettes, these smokers are acting rationally in response to the financial incentive of saving money on taxes. This aligns with economic research suggesting that while demand for cigarettes is relatively inelastic, there is still some response to price changes, albeit small.
Overall, this behavior reinforces the concept that consumer choices can shift in response to different economic incentives, and that taxation policies can have broader impacts on market transactions and consumer spending patterns.
Fiat money: a is currency backed by the gold in Fort Knox. b is currency from Italy. c has advantages over commodity-backed money. d includes currency, checking deposits and credit cards. e can include currency backed by gold, but not silver.
Answer:
Option D.
Explanation:
Fiat money refers to currency that is issued by the government and which is not backed by any physical commodity, such as gold or silver, but rather by the government that issued it.
The value of fiat money is gotten from the relationship that exists between supply and demand and the stability of the issuing government. The value is not based on the worth of a commodity backing it as is the case for commodity money.
Most modern paper currencies are fiat currencies, including the U.S. dollar, the euro, and other major global currencies. One risk that fiat money faces is the printing of too many of a particular currency, which can contribute to hyperinflation.
Answer:
D.includes currency, checking deposits and credit cards.
Explanation:
Fiat money can be defined as any currency declared as legal tender by the government that lacks intrinsic value.
Fiat money is a government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issued it. It is not a currency from Italy.
Fiat money gives central banks of a country a greater control over the economy because they can control how much money is printed and the value is defined by the relationship between demand and supply.
In light of persistent ____________, growing ____________ and the tendency by some firms and industries to seek legislative redress for failures in the marketplace, the US Congress in the past two decades has increasingly been willing to provide the president with more powers to_________ trade.
Answer:
The answer is:
Trade deficit;
Foreign Direct Investment;
Restrict.
Explanation:
In light of persistent TRADE DEFICIT , growing FOREIGN DIRECT INVESTMENT and the tendency by some firms and industries to seek legislative redress for failures in the marketplace, the US Congress in the past two decades has increasingly been willing to provide the president with more powers to RESTRICT trade.
Trade deficit occurs when a country import more goods than what she is exporting. Trade deficit makes infant industries im the home country less competitive.
Foreign Direct Investment is the ownership of business in another country.
Restricting trade can makes home infant industries more competitive.
Bread Company hires Craig to sell the companyâs products in a certain area. Bread agrees to pay Craig a salary, plus commission, for a trial period. They also agree that he can sell using any methods and during any hours that seem appropriate. The key factor in whether Craig is Breadâs employee is__________.a. the size of craig's sales area.b. the length of the trial period.c. the control home baked bread has over the details of the work.d. the amount of craig's salary.
The key factor involved in the Sales process of Craig is the control home- baked bread has over the details of the work.
Explanation:
In the process of sales, Corporate ventures apply many marketing strategies to reap the profit margin. It depends upon the reputation of each brand marketed through various selling layouts. Regardless of the size of the market area nor the factor of the trial period and the compensation package, He concentrated only on the quality of the Bread. He strongly believed that homemade bread products should ensure the full health benefits to the buyers who wish to consume again and again without hesitation.
He cannot envisage the status of sales in the future. But at the same time with his tedious jobs of propagating the quality of baked bread, He can boost the marketing and reach its popularity to all wishers who want to consume the product on the regular basis.
The key factor in determining whether Craig is Bread Company's employee is the control that Bread Company has over the details of the work. This control implies the more involvement the company has in dictating how, when, and where the work is done, the more likely it is that an employment relationship exists.
Explanation:In determining whether Craig is Bread Company's employee, the key factor is c. the control that Bread Company has over the details of the work. The more control the Bread Company has over Craig's activities and work details, the more likely it is that Craig would be considered an employee rather than an independent contractor. An example to illustrate this is the Canadian worker who could produce 10 loaves of bread in an hour due to having access to a large industrial-sized oven - it was still the bakery's decision on how much bread to produce, when, and what tools to use. However, in Craig's case, he is allowed to use any methods and work during any hours that he finds suitable, which implies he has a fair amount of autonomy in his role.
On the buyer's side of the labour market, a standard precaution against hiring a "lemon" of an employee is to specify that the first few months of employment are officially a trial or probationary period, and that the employer can dismiss the worker for any reason or no reason after that time. This indicates the element of control the company has over the job tenure during the trial period which is common in many jobs.
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Budgeted sales in Allen Company over the next four months are given below: September October November December$100,000 $160,000 $180,000 $120,000 Thirty percent of the company’s sales are for cash and 70% are on account. Collections for sales on account follow a stable pattern as follows: 50% of a month’s credit sales are collected in the month of sale, 30% are collected in the month following sale, and 20% are collected in the second month following sale. Given these data, cash collections for December should be:A. $138,000B. $133,500C. $120,000D. $103,500
Answer:
$138,200
Explanation:
Given that thirty percent of the company’s sales are for cash and 70% are on account and 50% of a month’s credit sales are collected in the month of sale, 30% are collected in the month following sale, and 20% are collected in the second month following sale.
It means that cash collection in December will include;
30% sales in December35% of sales in December21% of sales in November and 14% of sales in October= 30% * 120,000 + 35% * 120,000 + 21% * 180,000 + 14% * 160,000
= 36,000 + 42,000 + 37,800 + 22,400
= $138,200
________ is the process of getting to know one's contacts in a host country and building mutual trust before embarking on business discussions and transactions. Grupo de opciones de respuesta Exchange of task-related information Persuasion Conflict management Relationship building
Answer:
The correct answer is letter "D": Relationship building.
Explanation:
When a firm starts operations internationally it is important to build relationships with the representatives of the entity with whom businesses will be handled. As the organizations have not worked together in the past, the rely on a fiduciary relationship which is based on trust both parties deposit in each other believing they will act accordingly. Creating strong bonds is likely to increase the efficiency of the operations handled by the participants.
To communicate effectively, a marketing communicator should most likely ________. A. encode and decode the message personally and frequently B. ensure that the encoding and decoding processes are different C. use familiar words and symbols D. foresee unplanned static or distortion E. understand the consumer's field of experience
Answer:
c
Explanation:
it makes communication a lot easier when communicating with customers and clients to ensure that that what is being said and symbols involved are clear and understandable.
To communicate effectively, a marketing communicator should most likely use familiar words and symbols. Hence, option C is correct.
Why is it important to communicate properly in marketing?It is important to communicate efficiently in the marketing as marketing is all about the customer pitching and customer relationship.
Marketing person always have to listen properly so that they are able to understand the problem of the customer and reply accordingly.
In marketing, excellent communication is crucial. It creates and nurtures connections between workers and customers, and customer becomes the repetitive client.
Thus, option C is correct.
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Put the Procurement to Payment process steps in order of occurence: 1.Vendor Payment 2. Create and send Purchase Order to vendor 3.Create purchase requisition 4.Vendor Selection 5.Shipment ot item ordered from vendor 6.Invoice receipt 7.Goods Receipt
Answer:
The correct sequence is as follows;
3.Create purchase requisition - 4.Vendor Selection - 2. Create and send Purchase Order to vendor - 5.Shipment of item ordered from vendor - 7.Goods Receipt - 6.Invoice receipt - 1.Vendor Payment
Explanation:
In making a requisition, the first step is to create the purchase requisition. This then drives or informs the selection of a vendor.
Then, the purchase order is created and sent to the vendor. The vendor ships based on the purchase order, the goods are received and acknowledged.
The seller sends the invoice which informs the amount to be paid.
Many project managers like to use the Tracking table to update progress because it shows the currently scheduled task start and finish dates (the Update Tasks dialog box does not show the scheduled start and finish dates).A. TrueB. False
Answer:
False
Explanation:
It is incorrect
On September 1 the Petite-Sizes Store paid $12,000 to the Mega-Mall Co. for 3-month rent beginning September 1. Prepaid Rent was debited for the payment. If Petite-Sizes Store prepares financial statements on September 30, the appropriate adjusting journal entry to make on September 30 would be ________.
a. Prepaid Rent - $4,000; Rent Expense - $4,000b. Rent Expense - $4,000; Prepaid Rent - $4,000c. Prepaid Rent - $8,000; Rent Expense - $8,000d. Rent Expense - $8,000; Prepaid Rent - $8,000
Howard Corporation issued a 20-year mortgage note payable on January 1. On December 31, the unpaid principle balance will be reported as:_______.
a. part current and part long-term liability.
b. a current liability.
c. a long-term liability.
d. interest payable.
Answer:
c. a long-term liability.
Explanation:
Short term liabilities are those liabilities which need to be paid within one year time and Long term liabilities are those liabilities which need to be paid after one year time.
In this question on December 31, Howard Corporation need to pay the principal in 19 years from now, as it it a long period, so amount of principal will be classified as a long-term liability.